What is the test for determining whether a director of a private equity company acted with an honest desire to secure a private interest in the company?
California, United States of America
The following excerpt is from Sedaghat-Pour v. Pezeshki, B232584 (Cal. App. 2012):
the clear inference that no one thus acting could have been influenced by any honest desire to secure such interest, but that he must have acted with an intent to sub-serve some outside purpose, regardless of the consequences to the company."' [Citations.]" (Burt v. Irvine Co., supra, at p. 852.)
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